A pip is typically the fourth decimal place of a currency pair (the second for JPY pairs). Pip value depends on lot size and pair: about $10 per pip on a standard lot of a USD-quoted pair.
Forex position sizing works in pips: risk amount divided by (stop in pips × pip value per lot) gives the lots to trade.
See it on your own trades.
Merlin computes the metrics and rule distances above from your imported history, and checks your next trade against them before you enter.
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Firm figures reflect published rules at the time of writing. Firms revise rules often, so verify against the firm's site before relying on them.
Merlin's gauges derive from closed trades. Your firm watches live equity including open positions.
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